Home News Germany’s REWE Group acquires Apollo

Germany’s REWE Group acquires Apollo

0
SHARE

Apollo and European part of Kuoni tour operator sold
DER Touristik, the tourism division of REWE Group, one of Germany’s leading retail and tourism companies, is buying Apollo, one of the largest tour operators in Denmark along with the whole of the European part of Kuoni.
All employees and trademarks involved in the purchase will continue as before, including the brand names Apollo and Kuoni. The acquisition is expected to be completed during the third quarter of 2015.
In January, Kuoni announced that it wanted to sell its tour operating business, including Apollo in Scandinavia. Now it’s official that REWE Group is acquiring the European part of Kuoni. The business units in Scandinavia, Switzerland, the UK and Benelux are being taken over completely.
DER Touristik has long held a desire to enter the Nordic market and sees the acquisition of Apollo as a direct opportunity to gain a leading position in the region. Apollo operates in Sweden, Norway, Denmark and Finland under one trademark in all countries – a clear competitive advantage.
“We see it as a great strength that Apollo stands out in the market as the classic Nordic brand it is. Apollo is well known among the many travellers in the Nordic countries,” said Leif Vase Larsen, CEO of Apollo in the Nordics. “For all our employees and customers this is good news. In REWE Group we get an owner who recognises the potential of Apollo in the Nordic market.”
The agreement with REWE Group provides a full takeover of all operators, specialists and agents and also includes Apollo’s airline Novair and the sports and leisure hotel Playitas in Fuerteventura.
The parties have agreed not to reveal the purchase price or other details of the agreement. The acquisition takes place when the competition authorities in the EU and Switzerland approve the deal.
Dfly

LEAVE A REPLY

Please enter your comment!
Please enter your name here